2014 Kentucky Revised Statutes CHAPTER 381 - TITLE TO PROPERTY AND RESTRICTIONS ON USE, OWNERSHIP, AND ALIENATION 381.9137 Allocation of common element interests, votes, and common expense liabilities.
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381.9137 Allocation of common element interests, votes, and common
expense liabilities.
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The declaration shall allocate a fraction or percentage of undivided interests in
the common elements and in the common expenses of the association, and a
portion of the votes in the association, to each unit and state the formulas used
to establish those allocations. Those allocations shall not discriminate in favor
of units owned by the declarant.
If units may be added to or withdrawn from the condominium, the declaration
shall state the formulas to be used to reallocate the allocated interests among
all units included in the condominium after the addition or withdrawal.
The declaration may provide:
(a) That different allocations of votes shall be made to the units on particular
matters specified in the declaration; and
(b) For class voting on specified issues affecting the class if necessary to
protect valid interests of the class. A declarant shall not utilize cumulative
or class voting for the purpose of evading any limitation imposed on
declarants by KRS 381.9101 to 381.9207, and units shall not constitute a
class because they are owned by a declarant.
The declaration shall not permit cumulative voting, including cumulative voting
for the purpose of electing members of the executive board.
Unless otherwise stated in the declaration, the declarant retains full voting
rights to any unit until it conveyed.
Except for minor variations due to rounding, the sum of the undivided interests
in the common elements and common expense liabilities allocated at any time
to all the units shall each equal one (1), if stated as fractions, or one hundred
percent (100%), if stated as percentages. In the event of a discrepancy
between an allocated interest and the result derived from application of the
pertinent formula, the allocated interest prevails in the absence of error in
specifying the allocated interest.
The common elements are not subject to partition, and any purported
conveyance, encumbrance, judicial sale, or other voluntary or involuntary
transfer of an undivided interest in the common elements made without the unit
to which that interest is allocated, shall be void.
Effective:January 1, 2011
History: Created 2010 Ky. Acts ch. 97, sec. 19, effective January 1, 2011.
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